It
means undertaking banking transaction using mobile phones by bank customers
for credit/debit of their accounts. It also includes checking of bank account
for balance inquiry, stop payment instructions, transaction inquiry, etc.
Mobile banking is a mean's to enlarge the customer base of banks since a very
large portion of the population possesses mobile phones. Customers need to register
with their banks for using this facility for getting their security controls.
RBI wants banks to popularize this facility for penetration of banking services
in our country.

The
introduction of core banking solution has made possible banking through different channels.One of them is banking using the internet or online banking
as it is known. It is possible by using specially general password by the bank
after registering with it. Most of the basic services are available on a 24X7 basis.

Phone
Banking

Phone
banking as the name suggests is to get banking facilities through the uses of
phones after due identification process is completed. Cash delivery pick up of
cheques for collection and delivery of drafts are different benefits that are
available through this mode.

What
is Faceless Banking?

Most
of latest banking is done through technology through technology driven model
like phone banking, internet banking ,mobile banking etc where the customer
does not interact face to face with any bank official. Hence, this form of
banking is known as faceless banking.

Banking
business which primarily cater to the average individual like offering deposit
accounts and loans like personal, car and housing, come under retail banking.

Offshore Banking

It
denotes the branch of an Indian bank which is located in a special economic
zone or an area away from the location of the customer. This is primary meant
to encourage exports from the with a specified set of rules and regulations.

Brick
and Mortar Banking

With
the introduction of technology in banking services the delivery model of banks
have undergone changes. To differentiate traditional banking from the modern
channels, traditional branch type banking is known as brick and mortar banking.

Private
Banking

It
is a specialized financial and banking service made available to high net worth
individuals. The mode and manner of these services is very different from the
normal banking services.

Green
Investment Banking

It
is basically an investment where banks focus on environment friendly projects.
This is a new concept in view of emphasis on the protection of the environment.

Merchant
Banking

Banks acting as intermediaries in various business transaction of corporate like
equity, debt, external commercial borrowing etc are also known as merchant
banking.

Wholesale
Banking

It
typically involves a small number of very large customers such as big
corporations and big corporations and governments.It is largely with banks,
banks use inter bank markets to borrow from or lend to other banks/large
customers to participate in large bond issues and to syndicated lending.